FOR IMMEDIATE RELEASE 2001-99
SEC, State Regulators Launch Investment Adviser
Information Website
Washington, DC, September 25, 2001 - The Securities and
Exchange Commission and the North American Securities
Administrators Association (NASAA) today announced the launch
of a website that will allow investors to electronically
access information about money managers, financial planners
and other investment advisers.
The Investment Adviser Public Disclosure (IAPD) website
provides instant access to registration documents filed by
more than 9,000 registered investment advisers. The
documents, filed electronically with the SEC or state
securities administrators, provide information about each
adviser's business, advisory services and fees. The
registration documents also disclose any disciplinary problems
an adviser or its employees may have had during the last ten
years.
SEC Chairman Harvey L. Pitt said, "The IAPD website
underscores the SEC's commitment to full public disclosure by
giving investors a valuable new tool to help them compare the
qualifications and services of thousands of investment
advisers."
NASAA President Joseph Borg concurred. "Investors need
to know who they're dealing with and IAPD will help them do
just that, with just a click of a mouse. IAPD will become an
increasingly useful tool for investors as more and more state
investment advisers come on the system in the months ahead."
Currently more than 9,000 investment advisers nationwide
file and update their registration documents electronically,
including all 7,300 SEC-registered advisers and more than
1,700 state-registered advisers. Additional state-registered
advisers are joining the system daily.
The IAPD website, www.adviserinfo.sec.gov, will be
available 24 hours a day, free of charge. Investors without
Internet access can get copies of investment adviser
registration statements by calling the SEC Public Reference
Room at (202) 942-8090 or their state securities regulator.
For further information, contact the SEC Office of Public
Affairs at (202) 942-0020 or contact Ashley Baker of NASAA at
(202) 737-0901, ext. 105.
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